How to verify NFT Ownership?

How to verify NFT Ownership?
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NFTs have carved a niche in the crypto sphere. There is growing excitement around them, which shows no signs of slowing down. In this never-ending NFT spree, it becomes important to ensure the veracity or the true ownership details of the digital asset. Is it possible to verify NFT ownership? Check out the article to understand the simple steps following which you can check the NFT ownership.

How to verify NFT ownership?

Step: 1 Navigate to Etherscan io and enter the wallet address

Get any public wallet address along with other details – transaction hash, block, or token on Etherscan. It’s very simple to enter someone’s wallet address and obtain the same details.

Step: 2 Select the NFT that you wish to verify

All you need to do is select the drop-down and the token transactions you wish to view for a particular NFT transaction data. Next, you will be taken to your wallet history record of transactions relevant to the specific coin type you chose to view.

Step: 3 Select a transaction hash to view

Depending on the number of tokens you have access to in your wallet, you may have multiple transactions to choose from. Select the transaction you wish to verify and click on Txn Hash.

Step: 4  Check the “NFT’s status” and “Tokens Transferred” to verify the ownership

Once you select the NFT transaction whose status you wish to verify, you will be shown all the details:

  • Transaction Hash
  • Status (Success or Failed)
  • Block (Block Confirmation)
  • Timestamp (Date and Time)
  • Transaction fee (Gas fee)
  • From (sending address)
  • To (Receiving address)
  • Tokens transferred (From and To)
  • Value (Current value and that at the time of purchase)
  • Gas Price ( Cost/unit of gas spent on the transaction )
  • Gas Limit (Max amount of gas provided for the transaction)

NFT Certificate of Authenticity

When it comes to buying an NFT, its authentication is very important. There are two ways to verify NFT ownership. The first option is to use a blockchain explorer. Each blockchain has an explorer that offers information on tokens and wallets and lets you check the transactions. Using the explorer data, it is possible to confirm the authenticity of an NFT.

You cannot fake the ownership of an NFT. All transaction history of an NFT is permanently stored in the blockchain and is accessible to the public. So, if someone claims to be the owner of an NFT, it is possible to check the blockchain details and verify the NFT ownership. The blockchain details offer the complete information (similar to a personal identification) on the ownership and therefore make it possible to verify the NFT ownership.

The second tool is NFT’s digital certificate of authenticity. This comprises information on the NFT, such as its token identity, creator’s digital signature, and collection serial number. However, while not all NFTs have this certificate, those which offer key details can be validated against those provided by the creator.

Wrapping up

To sum up, NFTs can be checked for authenticity, and it is very much possible to verify NFT ownership. Blockchains that underpin the non-fungible tokens are public databases of all recorded transactions that anyone can view. These are highly tamper-proof and secure. In addition, the NFT digital certificate of authenticity also serves as a great means to verify NFT ownership.

We at iMintify, are specialists in the NFT space – minting, websites, landing pages, marketplaces – and much more! Feel free to reach out to us here for any of our services or queries.

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